Original disclosure @ IFC website
Updated in EWS Jun 10, 2020
Disclosed by Bank May 28, 2020
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The proposed project is an up to US$200 million senior loan with a 5-year maturity to FirstRand Bank Limited (“FirstRand Bank”), an existing client of IFC. The proceeds of the Project will be used to expand FirstRand Bank’s climate finance portfolio in South Africa. The Project will provide additional support to the bank’s strategy to fund renewable energy and energy efficiency projects in corporates and smaller businesses. It also facilitates the bank’s shifting focus, in its climate portfolio, from mitigation to resilience through the financing of “climate smart infrastructure”, agriculture and manufacturing.
FirstRand Bank Ltd
Andries Johannes du Toit
+27 11 282 4922
4 Merchant Place, Corner Fredman Drive and Rivonia Road, Sandton, 2196 South Africa
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